Canada’s life sciences sector – especially in therapeutics – produces world-class research, high-growth companies, and strong investment returns. Yet most financial gains are captured by foreign investors. This whitepaper analyzes capital flows, investor types, and exit outcomes from 2013–2024, revealing a clear pattern: Canada is creating value, but not keeping it.
The first white paper considers the role of innovation ecosystems, advantages of industrial clusters, and impact of anchor companies on the life sciences industry.
This paper describes how innovation ecosystems differ from clusters, and explores the symbiosis that exists among the component parts. We also propose a definition of research-based anchor companies in the Canadian context and explore the critical roles they play in leading internationally prominent life science clusters – a role that is absent in Canada.